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CFPB looking at mobile financial services

June 5, 2014 – A CFPB field hearing in New Orleans June 12 will focus on mobile financial services and include remarks from bureau Director Richard Cordray.

The hearing, slated for 10 a.m. Central time, will also include testimony from consumer groups, industry representatives and members of the public.

The hearing, to be held at The Old US Mint, will also be streamed live online. It’s open to the public, but attendees must first submit an RSVP.

The Fed reported on consumers' growing use of mobile financial services this March.

A survey report from the Federal Reserve this March showed more consumers are using mobile phones (33 percent) and smartphones (51 percent) to conduct financial transactions and keep up with their accounts.